10:12 WING ON TRAVEL<01189>& CHINA STRATEGIC<00235>-JA & Resume(7) million new Shares by CSH under the Second Placing Agreement also constitutes a discloseable transaction of CSH under the Listing Rules as the consideration ratio in respect of each such transaction exceeds 5% but is less than 25%. A circular containing, amongst other things, information in respect of the disposal and subscription of 2,340 million Shares will be dispatched to the shareholder of CSH as soon as practicable. UNUSUAL MOVEMENTS IN THE PRICE AND TRADING VOLUME OF THE SHARES OF WING ON TRAVEL The directors of Wing On Travel have noted the increase in the trading volume and the unusual share price movements of the Shares on the Last Dealing Date and wish to state that they are not aware of any reasons for such unusual movements. Wing On Travel has been notified that Hounslow Limited, a substantial shareholder of Wing On Travel (in which based on notices received by Wing On Travel pursuant to SFO was given to understand, Mr. Chan Yeuk Wai, a non-executive director of Wing On Travel, has 50% control) has disposed of an aggregate of 140,000,000 Shares on the Last Dealing Date. Those Shares were sold in the market at prices between HK$0.045 and HK$0.056 per Share on the Stock Exchange, representing approximately 1.5% of the total trading volume of Shares on the Last Dealing Date based on information published by the Stock Exchange. Mr. Chan Yeuk Wai was not involved in discussions or negotiations on the Placing and Subscription. Save for the transactions disclosed in this announcement, the Kingsway Transaction Announcement and those negotiations and discussions referred to in the announcements of Wing On Travel dated 1, 11, 16 November 2004 with respect to Wing On Travel's travel business which are still ongoing, the directors of Wing On Travel confirm that there are no negotiations or agreements relating to the intended acquisitions or realisations which are discloseable under Rule 13.23 of the Listing Rules, neither is the board of directors of Wing On Travel aware of any matter discloseable under the general obligation imposed by Rule 13.09 of the Listing Rules, which is or may be of a price sensitive-nature. The above statement is made by the order of the board of directors of Wing On Travel, the directors of Wing On Travel individually and jointly accept responsibility for the accuracy of the foregoing statement. UNUSUAL MOVEMENTS IN THE PRICE AND TRADING VOLUME OF THE SHARES OF CSH The directors of CSH have noted the increase in the trading volume and the decrease in the price of the shares of CSH on the Last Dealing Date and wish to state that they are not aware of any reasons for such unusual movements. Save for the transactions disclosed in this announcement and the matters disclosed in the announcement of CSH dated 15 November 2004 ("15 Nov Announcement") regarding the possible acquisition (the "Possible Acquisition") by a third party of the interests of Hanny Holdings Limited ("Hanny") and Paul Y. - ITC Construction Holdings Limited ("Paul Y. - ITC") in CSH, the directors of CSH confirm that there are no negotiations or agreements relating to the intended acquisitions or realisations which are discloseable under Rule 13.23 of the Listing Rules, neither is the board of directors of CSH aware of any matter discloseable under the general obligation imposed by Rule 13.09 of the Listing Rules, which is or may be of a price sensitive-nature. CSH has been informed in writing by each of Hanny and Paul Y. - ITC on 29 November 2004 that they are still in discussions with the third party regarding the Possible Acquisition. Each of Hanny and Paul Y. - ITC has further confirmed in writing that as the discussions regarding the Possible Acquisition is not in an advanced state, as material terms of the Possible Acquisition have yet to be agreed and no timetable has been fixed for the Possible Acquisition. Therefore, both Hanny and Paul Y. - ITC do not consider that an offer for the shares of CSH is imminent. All the directors of CSH jointly and severally accept full responsibility for the accuracy of the information contained in the above statement and confirm, having made all reasonable inquiries, that to the best of their knowledge opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in the above statement the omission of which would make any statement in this announcement misleading. GENERAL Trading of the shares of Wing On Travel and the shares of CSH on the Stock Exchange were suspended at 9:30am on 26 November 2004. Application has been made to the Stock Exchange for the resumption of trading of the shares of Wing On Travel and CSH respectively, with effect from 9:30am on 1 December 2004.